New analysis shows that families in Thirsk and Malton could save £3,250 when moving home under Conservative plans to abolish stamp duty on the family home.
As the previous Shadow Secretary for Housing and someone who has spent their business career in the housing sector, I see first-hand how difficult it has become for people to get on the housing ladder or move to a home that suits their needs. Stamp duty is a tax that makes buying a home more expensive, discourages older people from downsizing, and makes it harder for young families to take the next step.
That is why I support the plans announced by Kemi Badenoch to abolish stamp duty on primary residences entirely. Under these proposals, no stamp duty would be paid on the family home, regardless of price. The policy would not apply to second homes, companies, or overseas buyers, ensuring the focus remains on helping local families.
This is a fully funded tax cut, paid for through responsible savings in public spending, and forms part of our wider plan for a stronger economy. By removing this barrier, we can help free up the housing market, encourage downsizing, and make it easier for first-time buyers in Thirsk and Malton to get a foot on the ladder.
I believe this is both a moral and economic reform. It will support aspiration, boost our local economy, and help more people find a home that works for them.
